Analysts Set Red Hat Inc (RHT) PT at $163.16

Shares of Red Hat Inc (NYSE:RHT) have been assigned a consensus rating of “Hold” from the thirty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $163.16.

A number of equities research analysts have issued reports on RHT shares. OTR Global lowered Red Hat to a “positive” rating in a research note on Thursday, September 13th. Nomura lowered Red Hat from a “buy” rating to a “hold” rating and increased their price target for the stock from $175.00 to $190.00 in a research note on Tuesday, October 30th. JPMorgan Chase & Co. lowered Red Hat from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, September 18th. Jefferies Financial Group cut their price objective on Red Hat from $154.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Finally, KeyCorp cut their price objective on Red Hat from $184.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, September 20th.

Shares of NYSE:RHT traded up $0.38 during midday trading on Thursday, hitting $173.26. The company had a trading volume of 313,046 shares, compared to its average volume of 4,338,413. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $30.58 billion, a price-to-earnings ratio of 75.20, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71. Red Hat has a 12-month low of $115.31 and a 12-month high of $177.70.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $822.75 million during the quarter, compared to analyst estimates of $828.12 million. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. Red Hat’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, equities research analysts expect that Red Hat will post 2.57 earnings per share for the current fiscal year.

In other Red Hat news, EVP Delisa Alexander sold 960 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $120,028.80. Following the completion of the sale, the executive vice president now owns 33,217 shares of the company’s stock, valued at $4,153,121.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $314,200.39. Following the completion of the sale, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,631 shares of company stock valued at $453,984. 0.58% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sustainable Growth Advisers LP lifted its stake in Red Hat by 11.6% in the third quarter. Sustainable Growth Advisers LP now owns 2,221,772 shares of the open-source software company’s stock worth $302,783,000 after purchasing an additional 230,675 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Red Hat by 64.9% in the second quarter. Janus Henderson Group PLC now owns 2,162,044 shares of the open-source software company’s stock worth $290,527,000 after purchasing an additional 850,715 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Red Hat by 1.2% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,832,275 shares of the open-source software company’s stock worth $249,702,000 after purchasing an additional 21,970 shares during the last quarter. Blair William & Co. IL lifted its stake in Red Hat by 3.6% in the third quarter. Blair William & Co. IL now owns 1,487,185 shares of the open-source software company’s stock worth $202,674,000 after purchasing an additional 51,258 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Red Hat by 16.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,022,828 shares of the open-source software company’s stock worth $139,391,000 after purchasing an additional 146,233 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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Analyst Recommendations for Red Hat (NYSE:RHT)

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